This indicator is not on bars or on tick based. It strictly works
based on a time. It generates a new bar with Open, Close, High and Low for the given period in seconds. This version does not depend on ticks at all (it works
even on weekends — creating a flat line, since there is no price change, but
it works) and this version is able to display data even when ticks in
regular sessions are not coming in.

Also, pay attention that
starting multiple instances of the same indicator with same settings at
different time will not produce same "chart": the data will be
different.